SEC Prepares to Write Crypto Rules if Clarity Act Fails

The Securities and Exchange Commission (SEC) is ready to write its own rules for the crypto market if Congress fails to pass the Clarity Act, according to Chairman Paul Atkins. In a recent interview with CNBC, Atkins emphasized the importance of having a statute in place to provide certainty to the market.

Atkins argued that a statute is the best way to future-proof regulatory frameworks, which can shift with each new administration. He expressed optimism that Congress will pass the Clarity Act and reiterated the SEC's commitment to providing technical assistance to support its passage.

The Clarity Act has already cleared the House of Representatives but has stalled in the Senate, where it faces opposition from some Democrats. The bill would grant the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over spot markets in digital commodities, moving most tokens outside the SEC's reach.